DuPont Files Q2 2024 10-Q Report

TL;DR

DuPont's Q2 10-Q is in: check financials for H1 2024 performance.

AI Summary

DuPont de Nemours, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and the first half of the fiscal year. Key financial data and operational details are presented, reflecting the company's performance and financial position during this period.

Why It Matters

This filing provides investors with crucial financial data for DuPont de Nemours, Inc., enabling them to assess the company's performance and make informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard for public companies, but the specific financial details and disclosures within can reveal significant risks or opportunities.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter and half-year covered by the report.)
• 2024-07-31 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• DuPont de Nemours, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240731 (date) — Date of filing
• DowDuPont Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share DD New York Stock Exchange
• $1 billion — realize the anticipated benefits of the $1 billion share repurchase program announced on F

Filing Documents

• dd-20240630.htm (10-Q) — 1885KB
• exhibit311063024.htm (EX-31.1) — 11KB
• exhibit312063024.htm (EX-31.2) — 11KB
• exhibit313063024.htm (EX-31.3) — 11KB
• exhibit321063024.htm (EX-32.1) — 5KB
• exhibit322063024.htm (EX-32.2) — 5KB
• exhibit323063024.htm (EX-32.3) — 5KB
• 0001666700-24-000031.txt ( ) — 11561KB
• dd-20240630.xsd (EX-101.SCH) — 78KB
• dd-20240630_cal.xml (EX-101.CAL) — 135KB
• dd-20240630_def.xml (EX-101.DEF) — 405KB
• dd-20240630_lab.xml (EX-101.LAB) — 887KB
• dd-20240630_pre.xml (EX-101.PRE) — 663KB
• dd-20240630_htm.xml (XML) — 2004KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION PAGE

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) Consolidated Statements of Operations 6 Consolidated Statements of Comprehensive Income 7 Condensed Consolidated Balance Sheets 8 Consolidated Statements of Cash Flows 9 Consolidated Statements of Equity 10 Notes to the Consolidated Financial Statements (Unaudited) 12

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 41 Overview 41 Results of Operations 43 Segment Results 46 Changes in Financial Condition 50

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 54

Controls and Procedures

Item 4. Controls and Procedures 54

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 55

Risk Factors

Item 1A. Risk Factors 56

Unregistered Sales of Equity Securities , Use of Proceed s and Purchases of Equity Securitie s

Item 2. Unregistered Sales of Equity Securities , Use of Proceed s and Purchases of Equity Securitie s 58

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 58

Other Information

Item 5. Other Information 58

Exhibits

Item 6. Exhibits 59

SIGNATURES

SIGNATURES 60 3 Table of Contents DuPont de Nemours, Inc. DuPont TM and all products, unless otherwise noted, denoted with TM , SM or are trademarks, service marks or registered trademarks of affiliates of DuPont de Nemours, Inc. Overview On May 22, 2024, DuPont announced a plan to separate the company into three distinct, publicly traded companies. Under the plan, DuPont would execute the proposed separations of its Electronics and Water businesses in a tax-free manner to its shareholders leaving DuPont to continue as a diversified industrial company following completion of the separations. DuPont expects to complete the separations within 18 to 24 months of the announcement date. The separation transactions will not require a shareholder vote and are subject to satisfaction of customary conditions, including final approval by DuPont's Board of Directors, receipt of tax opinion from counsel, the filing and effectiveness of Form 10 registration statements with the U.S. Securities and Exchange Commission, applicable regulatory approvals and satisfactory completion of financing. Please refer to the announcement and presentation materials from May 22, 2024, posted to the Investor section of www.dupont.com, for more information. Effective as of January 1, 2024, Electronics & Industrial realigned certain product lines that comprise its business units (Industrial Solutions, Interconnect Solutions and Semiconductor Technologies) that are intended to optimize business operations across the segment leading to enhanced value for customers and cost savings. The Net Trade Revenue by Segment and Business or Major Product Line has been recast for all periods presented to reflect the new structure. The realignment did not result in changes to total Electronics and Industrial segment net sales. On November 1, 2023, DuPont completed the divestiture of the Delrin acetal homopolymer (H-POM) business to TJC LP, (the "Delrin Divestiture"). The results of operations for t

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This document contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target, "outlook," "stabilization," "confident," "preliminary," "initial," and similar expressions and variations or negatives of these words. All statements, other than statements of historical fact, are forward-looking statements, including statements regarding outlook, expectations and guidance. Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not guarantees of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the ability of DuPont to effect the separation transactions described above and to meet the conditions related thereto; (ii) the possibility that the separation transactions will not be completed within the anticipated time period or at all; (iii) the possibility that the separation transactions will not achieve their intended benefits; (iv) the impact of the separation transactions on DuPont's businesses and the risk that the separations may be more difficult, time-consuming or costly than expected, including the impact on DuPont's resources, systems, procedures and controls, diversion of management's attention and the impact

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS DuPont de Nemours, Inc. Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, In millions, except per share amounts (Unaudited) 2024 2023 2024 2023 Net sales $ 3,171 $ 3,094 $ 6,102 $ 6,112 Cost of sales 1,996 2,030 3,914 4,013 Research and development expenses 134 125 259 252 Selling, general and administrative expenses 418 358 802 698 Amortization of intangibles 151 146 300 293 Restructuring and asset related charges - net 8 17 47 31 Acquisition, integration and separation costs 5 6 8 6 Equity in earnings of nonconsolidated affiliates 23 14 35 29 Sundry income (expense) - net ( 87 ) 28 ( 49 ) 57 Interest expense 99 98 195 193 Income from continuing operations before income taxes $ 296 $ 356 $ 563 $ 712 Provision for income taxes on continuing operations 120 87 204 170 Income from continuing operations, net of tax $ 176 $ 269 $ 359 $ 542 Income (loss) from discontinued operations, net of tax 9 ( 386 ) 23 ( 394 ) Net income (loss) $ 185 $ ( 117 ) $ 382 $ 148 Net income attributable to noncontrolling interests 7 14 15 22 Net income (loss) available for DuPont common stockholders $ 178 $ ( 131 ) $ 367 $ 126 Per common share data: Earnings per common share from continuing operations - basic $ 0.40 $ 0.56 $ 0.82 $ 1.13 Earnings (loss) per common share from discontinued operations - basic 0.02 ( 0.84 ) 0.05 ( 0.86 ) Earnings (loss) per common share - basic $ 0.43 $ ( 0.29 ) $ 0.87 $ 0.27 Earnings per common share from continuing operations - diluted $ 0.40 $ 0.55 0.82 1.13 Earnings (loss) per common share from discontinued operations - diluted 0.02 ( 0.84 ) 0.05 ( 0.86 ) Earnings (loss) per common share - diluted $ 0.42 $ ( 0.28 ) $ 0.87 $ 0.27 Weighted-average common shares outstanding - basic 417.8 459.2 420.3 459.0 Weighted-average common shares outstanding - diluted 419.3 460.3 421.6 460.2 See Notes to the Consolidated Financial Statements. 6 DuPont de Nemours,

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